Dear students, get fully solved assignments by professionals

Do send your query at :

help.mbaassignments@gmail.com

or call us at :08263069601

Fundamentals of big data

NMIMS Global Access
School for Continuing Education (NGA-SCE)
1. What is meant by Big Data in the retail sector. Mention the 7 ‘V’ s of Big Data,
andprovide an example for each of them.

Answer: As the name suggests, big data is a term that describes the large volume of data, that
data may be structured or unstructured. That data inundates a business on routine basis and
used by organization for various purposes. Data may not be important but how companies are
using that data, is really matters. Big data can be analyzed for insights that lead to better
decisions and strategic business moves. As mentioned in the question that healthcare industry
is inundated with

2. A leading retail chain is facing a consistent decline in their sales and net margin.
Theyhire a management consulting firm to ascertain the reason behind it and
suggestcorrective actions. The management consultant advises lack of
analyticsimplementation as the primary reason for sagging sales and negative net
margin. Theretail chain now wants to engage an IT consulting firm to suggest them a
roadmaptoward implementation data analytics in their organization. How can the retail
chainleverage the power of descriptive and diagnostic analytics to derive insights into
whathappened in the past and the reasons behind it? How the retail chain can move up
theanalytics value chain and leverage the advantages of Predictive and
Prescriptiveanalytics to derive valuable insights into future strategies.

Answer: Modern organisations are rich with data. Owing to large-scale

computerisationefforts, almost all processes, activities, and interactions within the
organisationare available in accessible databases. This rich data environment hasspawned a
variety of software applications that rely on the principles of decisionsupport systems (DSS)
and enable organisations to change their competitivestrategy. These applications rely on fast
computing architectures, alarge collection of historical data, access to data being produced
currently inthe organisation, and computing software that enables complex models to beused
for analysis. This approach to using data analysis is widely known asanalytics.

3. HP launched a new touch-screen laptop which had a tremendous rise in their sales
onthe first day of launch on Amazon breaking the records of Dell and Apple. Assume
youhave been hired as a data analytics consultant by one of HP’s competitors.
a. Identify social media analytics tools that can be deployed to understand
consumerbehavior and trends.
b. Identify mobile analytics approaches and tools that can be deployed to understand
andleverage mobile usage behavior.

Answer: a) Using social media, you can find your potential customers. One of the key
advantages of social media for businesses is that it enables you to interact with your
customers. Going through the tweets and Facebook updates that are posted by your customer
base gives you insight into what they need. This is useful for helping your company
formulate marketing strategies that address their needs. Social media streamlines the process
of providing and receiving feedback from your prospective buyers. If your customers have
concerns or problems with what your business offers, they can let you know in a timely
manner. Statistics indicate that the way people utilize social media and interact online
influences their purchasing decisions.
Dear students, get fully solved assignments by professionals
Do send your query at :
help.mbaassignments@gmail.com

or call us at :08263069601